Pareteum Adds $11 Million in New Business
Three-Year Contracts with Five New Brands Represents 800,000 Connections
NEW YORK, Oct. 23, 2018 /PRNewswire/ -- Pareteum Corporation (Nasdaq: TEUM), a cloud software platform company, today announced that it has signed three-year mobility as a service agreements totaling $11 million and 800,000 in connections with five new brands, including Global Connect, WorldSIM, and Moby.
New business sales summaries include the following:
- Connectivity, monitoring, and billing for Global Connect, a communication services internet of things company with multinational clients focused on home automated solutions.
- Connectivity solutions for customers in India via WorldSIM, an international travel mobility offering the WorldSIM International SIM card for travel.
- Mobility platform solutions via connectivity, monitoring, and billing for Moby, a mobile virtual network operator offering pre-paid wireless.
"Pareteum continues to sign on new mobility as a service customers," said Rob Mumby, chief revenue officer of Pareteum. "As we grow our customer relationships, we are helping to provide innovative connectivity solutions for consumers in new and rapidly-developing markets."
Pareteum Executive Chairman and Principal Executive Officer Hal Turner commented, "Our mobility as a service offering is positively changing the business models of our customers, as well as the market reach available to them via our Global Software Defined Cloud platform. These new customers further our mission and facilitate our view that software and communications are converging through Pareteum's Super API for extraordinary new services and applications."
About Pareteum Corporation:
Pareteum Corporation (Nasdaq: TEUM) is a rapidly growing Global Software Defined Cloud company with a mission to connect "every person and everything." Organizations use Pareteum to energize their growth and profitability through our Global Software Defined Cloud and complete turnkey solutions featuring relevant content, applications, and connectivity worldwide. Our Cloud platform services partners (technologies integrated into our cloud) include: HPE, IBM, Ribbon Communications (Sonus+GenBand), NetNumber, Oracle, Microsoft, and other world class technology providers. All of the relevant customer acquired value is derived from Pareteum's leading Global Software Defined Cloud, delivering award-winning mobile enablement, regardless of the user's location or network. By harnessing the value of communications, Pareteum serves retail, enterprise and IoT customers. Pareteum currently has offices in New York, Sao Paulo, Madrid, Barcelona, Bahrain, Singapore, and the Netherlands. For more information please visit: www.pareteum.com.
Forward Looking Statements:
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to Pareteum's plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about Pareteum's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of Pareteum may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, Pareteum also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from those projected or suggested in Pareteum's filings with the Securities and Exchange Commission, copies of which are available from the SEC or may be obtained upon request from Pareteum Corporation.
Pareteum Investor Relations Contacts:
Ted O'Donnell
Chief Financial Officer
+1 212 984 1096
[email protected]
Stephen Hart
Hayden IR
+1 917 658 7878
Carrie Howes
Rayleigh Capital
European- Global IR
+1 416 837 0075
SOURCE Pareteum Corporation
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